GristyMcFisty used our news submit to tell us that Loudeye
a world leader in digital media has bought Europe's OD2 service for around £21 million pounds.
The move has come when competition is heating up in the digital music
arena. With Sony, Apple and Napster already entered into the market in a
blaze of publicity competition has really hotted up.
Loudeye will not compete
head on with the competition but instead supply digital music services to other
big players in the market. The combined company will supply more than 200
customers in 15 different countries. The customers it will be supplying
include companies such as MTV and Virgin Megastores.
| Loudeye, a world leader in digital media, is acquiring Distribution (OD2) for about $38.6m (£21.2m). The move comes as competition hots up in the cutthroat music downloads market. Sony, Apple Computer's iTunes and Napster have already entered the market in a fanfare of publicity. Loudeye will not compete head on - instead it will |
You can read the full
story over at the BBC. I guess the OD2 service knew it could not compete
with the other big services players out there and decided to sell up. I
guess the digital music market is becoming too competitive for the smaller
players to compete.
Source: BBC
